ICBC launches 7-day profit increase wealth management product
ICBC added a new member to the ICBC "Link Express" product family - "Link Express" ultra-short 7-day RMB profit increase. Customers are free to redeem anytime as long as the product is held longer than 7 days.
Amount will be credited into account on the next working day. Besides the product can be easily turned into cash，customers can expect higher maximum annualized yield than the conventional "Link Express" products and 7-day call deposit.
As related, this 7-day RMB profit increase wealth management product is a non-capital protected, floating earnings product mainly investing in the different types of bonds issued in the interbank bond market, trust plans in compliance with regulatory requirements, other assets or asset portfolios, money market funds, bond funds, repo, institutional wealth management products managed by the insurance asset management company and investment tools in other money capital market. Minimum investment amount is RMB 50,000. Customers are free to buy and redeem at ICBC outlets or through Internet Banking. Earnings are distributed every week on Monday (actual days are used as calculation if shorter than 7 days), and credited into customers' specified bank accounts every week on Tuesday (or dividend date), making dividend distribution more timely. If there is any change in the deposit interest rate and the yield of investment products in the market, ICBC will make necessary adjustment on the maximum annualized yield depending on the treasury operation.
